Re: Curious as to how people choose their lender / broker2
Jul 22, 2011 12:07 am
I went with commonwealth which I have been with since I was around 9yrs old with their incredible marketing scheme - the dolomite account.
However, I did a lot of research online, then went to two seperate mortgage brokers who both ended up with commonwealth being the preffered lender.
At the time, they worked out the cheapest and most convenient. bi winning.
Re: Curious as to how people choose their lender / broker3
Jul 22, 2011 5:39 pm
Ha ha yes the old dolomite. The CBA got me a uni with a special cheques cleared instantly account. It was pure gold back then not to have to wait 3 days for a cheque to clear. meant the difefrence bewtween going to the pub or drinking home brew..ahh they were the days hey!
Re: Curious as to how people choose their lender / broker4
Jul 22, 2011 8:26 pm
CBA has the largest market share of home loans, so I went direct with them. I have a herd mentality.
I wouldn't want to go with a small non-bank lender like what Mark Philippoussis did.
Anecdotal evidence scared me off.
Everytime CBA has a current loan campaign for new sign-ups for my loan type where the interest rate is lower than the current interest rate that I'm getting, I always call them up to match the campaign rate, and always threaten them to go elsewhere if they don't. They complied all the time. If you don't threaten them, they'll never lower it.
I learnt this home loan haggling technique from whirlpool. Worked every time.
13-08 Moved in
13-05 Build restart
13-04 VMIA compensation
12-08 Builder liquidation
10-11 2K deposit
10-06 Titled land
Re: Curious as to how people choose their lender / broker6
Jul 22, 2011 9:28 pm
We have been with Members Equity for years, very happy with them, they have good rates for members and everyone gets the same rates, so there's no favorites, lol. No fees, and great Service.
Re: Curious as to how people choose their lender / broker7
Jul 23, 2011 10:10 am
I like ME too, quality lender and the first lender that brought in a true no fee loan.
They got a bit caught up in the GFC though (they securitise to raise funds) and their pricing wasn't as sharp as it was pre gfc. Not sure where they are sitting as of late though. I would be good if they could use some of the vast pool of super fund money to fund their loans.... but alas it is viewed as too stytemically risky I think.
Re: Curious as to how people choose their lender / broker8
Jul 23, 2011 8:09 pm
Went with credit union which we have been with for many years - many years ago transferred from what was then state bank of SA.
Am happy with all their services so we have all our finances with them - interest rate wasnt absolutely lowest around but much lower establishment fee than banks and no monthly fees or account keeping fees, no penalites for making extra payments or paying loan out early.
Did look around at other options but none were better overall (for our situation anyway) when the total package was considered (ie not just the interest rate alone)
Re: Curious as to how people choose their lender / broker9
Jul 23, 2011 8:16 pm
We were referred to a broker through the first building company we had serious talks to. He turned out to be completely useless, he lost paperwork, forgot to tell us he'd recieved our loan offer from the bank until a week after offer date had lapsed. We gave him the flick and went direct to CBA ourselves (who he was organising our mortgage through), have been incredibly happy with them. I've banked with them since I have my very first account as a kid, my family bank with them too.
Re: Curious as to how people choose their lender / broker10
Jul 23, 2011 9:14 pm
need to put a few more options...
same as Erin, referred to my broker, CHOICE home loan by my first builder, Porter Davis.
I had 1 broker and 4 customer service (high turnover is so annoying) who all happened to be excellent. So I'll probably go with them again.
My favourite bank is Bendigo, staff are lovely, unlike the ones doing my mortgage from ANZ. Might try Bendigo as well for the next mortgage.
Re: Curious as to how people choose their lender / broker11
Jul 26, 2011 2:25 pm
I tried to go with CBA, my usual bank, but they never returned my calls. I tried for about 3 weeks, then I went with Mortgage Choice instead. This was back at the end of the 2008-2009 financial year when loan volume was going crazy, and since I was living in Singapore at the time they probably put me in the too hard basket. Their loss, my loan is now with ANZ.
I found Mortgage Choice online. And I'm very happy with their service (ferntree gully branch).
Metricon Riva 33 - http://herlihy-riva.blogspot.com
Site start 15/03/2010 - Handover 23/12/2010
9 months and 8 days (284 calendar days) from site start to handover
Re: Curious as to how people choose their lender / broker12
Jul 28, 2011 3:10 pm
So looks like the net is important for people doing research on home loans. I thought as much. Is interesr rates people are looking for online or something else? Surely can't just be % rate considering the major banks are getting 9 out 10 new loans these days? Perhaps to see what else is available to use as a comparison?
Curious as to how people choose their lender / broker13
Oct 10, 2011 2:37 pm
My sister recommended her Broker to me and I haven't looked back. His name is Ian Jackson and he is with AML Mrotgages. Ian and his team have gone above anything I could of hoped for. Even coming to my house on a saturday to have us sign our loan documents!
I couldn't recommend them highly enough
Building the Drysdale 30 Wallara Waters, Wallan
My Blog : http://www.ourwallanhome.blogspot.com
My thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=50975
Re: Curious as to how people choose their lender / broker14
Oct 10, 2011 3:10 pm
Went to a broker and we worked out the one that worked best for us was actually a home loan offered thru our current bank, which is what I would've preferred anyway. It works well for us that our home loan/savings/spending accounts are all through the one bank!
The road to success is always under construction
House completed April 2011 - slowly making it a home...
Re: Curious as to how people choose their lender / broker15
Dec 08, 2011 8:42 am
Members Equity are the only bank so far to pass on the Interest Cut, lets see if the others do the same. I bet they don't. So glad we are with ME, always have been, they offer a very low rate and are so easy to deal with. Thank's ME.
Re: Curious as to how people choose their lender / broker16
Dec 08, 2011 1:50 pm
BoQ and Police and Nurses have also passed theirs on.
Hopefully the media pressure will force the big 4 to do it, and quickly.
Might have to do some research and see if I can get a better deal.
Built with RedInk
Key Handover 15/12/2009
Re: Curious as to how people choose their lender / broker19
Dec 09, 2011 11:06 am
They should, greedy u no what's ME now has a variable rate of 6.74, I'm very happy with that.
IMO 6.74% is not that attractive and depending on loan amount and LVR you should be able to get a rate of 6.3% - 6.5% (now that most lenders have passed on the latest RBA reduction) especially since your paying $395pa package fee.
Re: Curious as to how people choose their lender / broker20
Dec 09, 2011 11:28 am
Im currently with Macquarie Group which has been fine. But i'm in the process of moving to Nab where i have fixed 80% of loan for 6.14% before rate rutes and Variable at 6.7% for the other 20% just so i can make extra repyments. Paper work hasn't clearded yet so hoping both % come down.
But the best thing I done was sore Nathan Aird at Community Mortgage, Gorokan (broker) Emails you whenever there are banking news, gives great advise and always has time for you and helps out wherever he can..
Also talks to you so you can understand and doesn't talk in bankers language.
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